EchoStar (ECHO) FY2023 results: revenue $17.0 billion, down 8.7% on the year
EchoStar Corp. (ECHO) reported revenue of $17.0 billion for fiscal 2023, the year ended 31 December 2023, down 8.7% on the year before. Net income was -$1.7 billion, and diluted earnings per share $-6.28. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.
Revenue
$17.0 billion
-8.7% on the year
FY2016FY2023
Operating margin
-1.6%
12.0% a year earlier
FY2016FY2023
Net income
-$1.7 billion
FY2016FY2023
Diluted EPS
-$6.28
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
2,433
3,621
4,655
-32.8%
Capital expenditure
3,101
3,050
1,619
+1.7%
Free cash flow
-668
571
3,036
Free cash flow margin
-3.9%
3.1%
15.3%
Cash from investing
-2,809
-9,060
-4,247
Cash from financing
-277
-274
3,515
Depreciation and amortisation
1,598
1,175
1,214
+36.0%
Share-based compensation
51.5
83.0
59.4
-37.9%
Buybacks
n/a
89.3
261
Diluted shares, weighted
271m
308m
313m
-12.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
19,880
21,488
3,354
-7.5%
Non-controlling interest
69.7
98.2
60.3
-29.0%
Debt
22,764
22,896
1,496
-0.6%
Operating lease liabilities
3,121
2,809
135
+11.1%
Finance lease liabilities
67.2
75.3
0.0
-10.7%
Other liabilities
11,207
11,382
1,000
-1.5%
Total liabilities and equity
57,109
58,748
6,045
-2.8%
Fixed assets
9,562
7,905
382
+21.0%
Goodwill
0.0
758
736
Intangible assets
173
n/a
n/a
Investments
1,098
1,980
1,010
-44.5%
Cash and equivalents
1,821
2,498
536
-27.1%
Receivables
1,122
1,183
182
-5.1%
Inventory
665
626
103
+6.3%
Other assets
42,668
43,800
3,096
-2.6%
Total assets
57,109
58,748
6,045
-2.8%
10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.